Like I said, they are cheap in TN. But what does that have to do with the price of eggs in china?
Were talking about a federal program here, and the federal tax is the same no matter what state you live in.
Anyone enrolled?
- Thread starter BigNBushy
- Start date
Were talking about a federal program here, and the federal tax is the same no matter what state you live in.
That would be withholdings from your pay check little Bucky.
When I got my first pay check, I was a bit bummed like you, then my mom told me I'd get it back in the form of a tax return, go talk to your mom, she'll explain the whole tax thing to ya.
see4
Well-Known Member
You make so little that is what happens to you.
Once you start making substantial income you'll understand. And by substantial, I mean anything over $70,000 a year.
IMO Substantial would have to be over $250,000 a year.
see4
Well-Known Member
I would agree. But you are missing the point.
People who make a substantial amount of money each year, usually pay very little taxes due to the way the tax laws are written. That's not to say they aren't paying a substantial amount, they are, but percentage wise they pay very little compared to most working class folks.
Very wealthy people usually have very low or no incomes at all. But they rake in millions per year but rarely pay more than 10% in taxes on it though.
Its almost like the laws were written by the rich and powerful for the benefit of the rich and powerful. hmmmmmmm.....
see4
Well-Known Member
My point is, when you make a significant amount of income, let's use your example of $250k, you do not usually get a refund in your tax return. I know I don't. I prefer not to give the government an interest free loan. But when you make so little, a few thousand dollar loan to the government is no big deal. beennowhere knows this fact because he makes so little. That was my point.
Yeah, maybe I should start supporting the living wage cause, then one of these days I can make me some of that substantial income.
Thanks for the tip, stud!
Smart people only pay what is due, not more. Unfortunately ( or fortunately depending on how you look at it.) most people let the government borrow from them interest free for a year and then feel like it saved a chunk of cash for them so they go buy something.
see4
Well-Known Member
I can buy that argument I suppose. To my point, however, when I made insignificant money, less than $100k a year, I consistently would get refunds, usually between $800 to $3500 a year. Once I began making double that, my refunds turned to payments, quarterly, even after standard deductions.
Yup, quarterly payments, and when you make them you make sure you don't underpay nor overpay, cuz you might not see that money for a while if you overpay. And you certainly don't want to underpay because the burden of proof is always on yourself when it comes to the tax Nazis, and they are relentless little bureaucrats hell bent on making master happy with constant tribute payments from the easily violated.
When running your own business, the IRS likes to keep its nose much closer to your ass so that it can smell anything unusual much more easily.
Nutes and Nugs
Well-Known Member
This brings up a good point about the people enrolled.
What if the govt starts testing for alcohol, nicotine, pot, obesity or whatever else it feels like doing?
If you refuse the test, you pay a fine.
Law will be passed to protect the insurance companies and the govt.
We are being led like lambs to slaughter.
If you are making that much money you're a fool to take the standard deduction, it's rather low. There are exceptions to this, but most over the 200k mark would benefit from itemized.
They don't even test welfare people.
You're all over the place my friend.
One minute you're getting tax refunds, the next post you're filing quarterlies!
Either you're self employed, or you're not, make your mind up and stick with one fabrication.
Rob Roy
Well-Known Member
Sometimes.
Canna Sylvan
Well-Known Member
You'll be much happier once you accept there are lots of men prettier than you and don't have to look stoned.
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